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Al Masah Capital rebrands ‘Healthcare Mena Limited’

DUBAI, October 5, 2015

‘Al Masah Capital Limited’, a leading alternative investment and asset management firms, has rebranded its healthcare private equity initiative, ‘Healthcare Mena Limited’ (HML), to ‘Avivo Group.’
 
During a press conference held at ‘The Address hotel – Dubai Mall’ recently, Al Masah has revealed its plans to invest around Dh1.1 billion to support the growth and regional expansion of Avivo Group within the next two years, said a statement.
 
This investment will increase the number of healthcare facilities operating under the Avivo Group brand from 32 to 50 in the next two years, it said.
 
This expansion is set to create more than 1,000 new job opportunities for GCC residents, and at the same time increase the annual reach of the group’s medical services to almost two million patients all over the GCC region.
 
In the past few years, Avivo Group has successfully expanded its presence in Abu Dhabi, Dubai, and Sharjah as well as in Kuwait. 
 
The group has plans to strengthen its presence in those cities and expand its network into new markets, such as Oman, Qatar, Saudi Arabia and South East Asia.
 
The rebranding comes as part of an overall strategy to position Avivo Group as one of the largest integrated healthcare services providers in the UAE and the region. 
 
The unified brand Avivo Group will ensure consistency in operating procedures, best practices and corporate values across all operations in current and future markets. 
 
Shailesh Dash, founder, chief executive officer and board member, Al Masah Capital, and chairman of Avivo Group, said: "Al Masah Capital is very active in alternative investment strategies. We believe in securing returns for investors while focusing on socially relevant sectors such as healthcare and education. 
 
"The ‘Avivo Group’ is an integrated healthcare network that has the potential to become a leading name and one of the largest in the region.”
 
“Healthcare markets in the GCC are extremely promising and remain undersupplied despite rapid growth. In fact, data suggests that the market is projected to continue growing at an annual rate of 4.4 per cent to hit $69.4 billion by 2020," said Dash.
 
"We strongly believe in the role that the private sector can play to support the governments’ endless efforts and visions to provide healthcare services that are world class and also accessible to the entire population,” he added.
 
Serving currently more than 1.3 million patients every year, the Avivo Group owns and operates 32 healthcare assets. This includes two hospitals, 14 speciality centres, eight high-end dental centres, six pharmacies, and two diagnostic facilities, said the statement.
 
In addition to employing more than 200 highly qualified doctors, specialised in 22 medical specialities, ‘Avivo Group’ has a staff capacity of more than 1,000 experienced and well trained medical professionals, it said.
 
The private sector has a key role to play in healthcare delivery. 
 
According to a research done by Al Masah Capital, figures indicated that (64 per cent) of healthcare expenditure in the UAE comes from the government, and only five per cent of hospitals’ beds are owned by the private sector. 
 
Between 2004 and 2013, the UAE was the most active regional market in terms of private equity healthcare deals.
 
Amitava Ghosal, executive board member and CEO, Avivo Group, said: “The opportunities are immense. Healthcare spending in the UAE is among the highest in the region and continues to increase. Per capita, healthcare spends for the UAE are the second highest in the GCC, and grew at a consistent 8.1 per cent CAGR between 2006 and 2011. 
 
"As per a 2013 Bloomberg report, the UAE’s healthcare system ranked 13 in the world, ahead of developed countries such as the UK, US, Canada, France and Germany. ‘Avivo Group’s’ plans dovetail with those of the regional governments, who are spending considerably on healthcare initiatives and want to attract world class facilities and operators to their countries.”
 
Abu Dhabi and Dubai are leading the way in moving to a market-led system of healthcare where mandatory insurance schemes help residents in paying for medical care without government subsidies. Demand pressures are also driving UAE healthcare investment, said the statement.
 
As per the World Health Organization (WHO) statistics, one in three adults in the UAE suffers from obesity, and one out of five people lives with diabetes. Population increases, and the UAE’s decision to promote itself as a hub for medical tourism, are also increasing demand for healthcare. - TradeArabia News Service



Tags: group | rebrand | Al Masah |

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